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The global cable accessories market reached a value of US$ 50.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 73.7 Billion by 2027, exhibiting at a CAGR of 6.3% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Cable accessories are designed for connecting cables and insulating conductors from direct contact with the earth. They help in strengthening cables, enhancing their durability and protecting them from degradation as well as erosion caused by ultraviolet (UV) light, environmental stress and other mediums. This aids in providing a reliable service for longer operating life in underground and overhead installations. Owing to these benefits, cable accessories are widely utilized in establishing the transmission and distribution (T&D) networks for electricity, telephone and internet systems.
Owing to industrialization, rapid urbanization, rising global population and increasing utilization of consumer electronics, there is a significant rise in the consumption of power across the globe. This, along with the rising adoption rates of smart grid technology in various countries, is impelling the global cable accessories market growth. Apart from this, governments in numerous countries are focusing on upgrading the existing grid infrastructure by utilizing new transmission lines. They are also setting up several unconventional energy power plants on account of growing environmental consciousness. Furthermore, some of the leading manufacturers in the industry are significantly investing in research and development (R&D) activities to improve the quality of cable accessories and ensure longer service life.
IMARC Group provides an analysis of the key trends in each sub-segment of the global cable accessories market, along with forecasts at the global and regional level from 2022-2027. Our report has categorized the market based on end user, voltage and installation.
Breakup by End User:
Breakup by Voltage:
Low voltage cable accessories currently exhibit a clear dominance in the market.
Breakup by Installation:
At present, overhead cable accessories account for majority of the total global market.
Asia Pacific currently represents the largest market, on account of rapid urbanization and industrialization, along with the government initiatives undertaken in various countries.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players are:
|Base Year of the Analysis||2021|
|Segment Coverage||Voltage, Installation, End-User, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Companies Covered||Nexans SA, The Prysmian Group, ABB Group, NKT A/S and Taihan Electric Wire Company Ltd.|
|Customization Scope||10% Free Customization|
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The global cable accessories market was valued at US$ 50.5 Billion in 2021.
We expect the global cable accessories market to exhibit a CAGR of 6.3% during 2022-2027.
The rising adoption of smart grid technology leading to the upgradation of existing power infrastructures
with advanced cable accessories, represents one of the key factors driving the global cable accessories
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations resulting in temporary halt in numerous construction activities and
upgradations of power infrastructures, thereby limiting the demand for cable accessories.
Based on the voltage, the global cable accessories market has been classified into low voltage, medium
voltage, and high voltage. Among these, low voltage cable accessories currently hold the largest market
Based on of the installation, the global cable accessories market can be divided into overhead and
underground accessories. Currently, overhead cable accessories account for the majority of the total
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East
and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global cable accessories market include Nexans SA, The Prysmian
Group, ABB Group, NKT A/S, Taihan Electric Wire Company Ltd., etc.
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